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The recent mortgage rule changes will materially impact the economy, according to one leading economist

The weekly survey of Canadian confidence in the economy continues to increase, but the percentage of respondents who believe that home prices will be higher in six months has decreased.

The Bloomberg/Nanos research showed that, for the week to May 11, overall confidence was higher, although job security and real estate declined slightly while the general economy and personal finances showed higher optimism.

The proportion of respondents who said that home prices would be higher in six months was down to 35.94 per cent from 37.79 per cent a week earlier; with 14.92 per cent predicting a decline; and 46.92 per cent expecting them to stay the same.

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